Nexus sells Browse Basin permit for $28m

Nexus Energy has sold its remaining 15 per cent interest in a Browse Basin exploration permit to Shell for $US19 million ($A28 million).

Nexus had been selling down its interest in permit AC/P41, which is located next to the Crux oil project.

A Nexus spokesperson said the permit was always prognosed as potentially containing some upside to the Crux project but Nexus has progressively farmed down its interest in the project over the past year or so.

He added that talks for a funding deal for Crux are still ongoing with an announcement expected in a couple of weeks.

Nexus was placed in a trading halt earlier this month after a sale deal with Japanese group Mitsui for 25 per cent of Crux fell through.

Shares in Nexus last traded at 38 cents.